Phoenix Symphony climbs out of debt

The Phoenix Symphony is officially back on its feet. The
nonprofit organization faced a $1.5 million budget deficit
less than two years ago. CEO Jim Ward attributed an improved business model has
helped the symphony erase its debt.

Michael Christie is the Virginia G. Piper Music Director of the Phoenix Symphony. (Photo courtesy of Phoenix Symphony)

“A nonprofit, I believe, needs to be run like a business," Ward said. "A
nonprofit makes money, can’t spend more than it makes, and therefore, we have to apply some of those same principles.”

Ward also credited online ticket sales and federal grants for more community
involvement have also helped the symphony.

“Through our efforts in leadership and collaborations, like
what we’ve done with the ballet and the opera," said Ward, "we’re proving that we can be
smarter about our business model and we can reduce our expenses while creating
greater impact in the community.”

Additionally, Ward said the revamped website for the Phoenix Symphony has produced more traffic and in turn more money.